Brief review of conditional probability and expectation followed by a study of Markov chains, both discrete and continuous time. Queuing theory, terminology, and single queue systems are studied with ...

The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

A random variable is a mathematical function that maps outcomes of random experiments to numbers. It can be thought of as the numeric result of operating a non-deterministic mechanism or performing a ...